All Forum Posts by: John K.

This seems to be very true, and consistent in many articles I have read. I am very new myself, but I am fully committed and will not stop learning until I retire. Everyday I am doing my research learning as much as I can before I make my first deal.

Sounds like you are doing the same and staying motivated! That is awesome I hope to hear nothing but success in your future. Sometimes I am overwhelmed with how much there is when talking about anything that deals with real estate. After a break though I always come back.

Just yesterday I was looking in the PA area, just to get an idea of the market for buy and hold. Maybe in the future we can talk some business. Good Luck!

As I made in the point in a similar post personally I would worry about getting my credit and finances in check before investing. Others will claim creative ways to fund your investments, but I feel if you are already in the hole why potentially dig deeper?

Try to pay off consumer debt first, and then work on reserves for an emergency. I am very conservative when it comes to money. I would not worry about attending these meetings if you have to pay. You have the internet and BP to learn as much as you can while saving money to invest!

With little money down you can look into FHA and 203k loans. You can also look to partner with someone in your area to share expenses and debt. Continue to use BP and network with others in the area. Learn from someone who is successful and will teach you the ways.

Hopefully someone with more expierence can add, but i think getting pre approved will help you with the purchase. It allows for you to figure out your finances and gives you leverage over someone else who is not pre approved. I dont think it will hurt though to start looking at properties just to get an idea what is out there and hopefully find the right deal. 

I am considering going after my license also. For someone that is new to the REI game i do not see why this would hurt in anyway. It allows for you to learn more about the field and everything else that is typically involved in a transaction. Also brings in money if you decide to put it to use.

Well with this idea you have to consider that on a military base usually will be a place for the service member to stay while waiting for a slot to open. Also outside of base at hotels or motels they usually offer a discount for military members. Being 15 minutes away Is not to bad, but you have to find a way to advertise to these specific service members in transition. Also how would you cover a 10 day rental? Would there be a some kind of agreement signed between the two parties? With 170k for a duplex you have to do a lot of research and find out the numbers in the area to see if and how you can attract the majority of service members in transition.

If it is in a good area only 15 minutes away from base why not look into long term?

@Account Closed

Awesome job and interview. Your just another investor who keeps me motivated at such a young age. Although I will be starting when I am 23 I still feel I will be ahead of the game.

Would you be able to share around how much money you had started with? Also what type of property did you start with and what do you typically buy now?

Can you post a link providing studies showing these numbers? One said 75% and the other said 90%. I know I see it all the time that almost everyone fails in real estate. Are these numbers including real estate agents?

@Troy W.

Seems like your doing very well for yourself. I was also looking in the Baltimore area, and it looks good on paper but I don't know about the area at all. I spend half of my day looking up multi families all over the country, and never look at SFH for buy and hold. I don't know why, but at least in New York I don't see why anyone would rent out a SFH. Maybe I should rethink my investment plans and learn more about SFH's.

You may also be able to talk with a realtor who knows the area very well. I have not done this, but I see people asking this question a few times. Realtors who help investors in the area probably can be a huge help. You can also check out rentometer and hotpads.

I was just thinking about this the other day. Some made the point that it doesn't matter, and I beg to differ. For instance a few years ago I was a Honda guy. A car with loud exhaust and beat up. I think if I were to show up to a house for a potential sale I will be looked at differently. In a perfect world it would not matter, but like in the military perception is everything.

On the flip side I wouldn't go out buying an expensive car just to flash to people that you "have money". Get an ordinary car show you expertise and make a sale. Well good luck!

@Hakim Mitchell

Just wanted to stop by and maybe help you with getting a response.

In your post you are being very short with explaining exactly what you are looking for. You should tell the BP community what it is you want and what you can offer. Without any of this who is going to contact you if they do not know what you will do for them.

For instance if you are looking for someone to fund you. They probably want to know do you have expierence? Are you reliable? How long have you been in the business? What price range are you typically looking at? Maybe even talk more about location considering NYC is a big city.

If you are serious about investing in real estate you have to realize to be successful and find the right people you have to network. You have to sell yourself to others. Well hopefully you reply with some of the information so you can find what you are looking for. I apologize this is not the best post, but I just got off a long shift and tired.